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Oct 03 - 08:55 PM

EUR/USD - Underperforms As USD Broadly Weakens

By John Noonan  —  Oct 03 - 06:35 PM
  • EUR/USD opens +0.23% after USD eased across the board on easing US yields

  • EUR underperformed - falling >1% against the GBP and commodity currencies nL1N3142MW

  • EUR/USD trend lower ended as 5-day MA has crossed above the 10-day MA

  • It has also closed above the 10-day MA (0.9756} for the second straight day

  • Resistance is at the 21-day MA at 0.9886 and break would suggest a bottom is in place

  • Support is at the 10-dayMA at 0.9756 and break would ease upward pressure

  • EUR/USD likely to consolidate in Asia with EUR/JPY flows dictating direction

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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